- Exploits Discovery (NFLD) has commenced the 2022 drilling campaign at its Titan gold target
- The property is located approximately 42 kilometers north-northeast of New Found Gold’s Keats-Lotto high grade gold discovery
- The company plans to employ ‘fan-style’ drilling patterns with several inclined undercuts testing subparallel mineralization with potential continuity at depth
- Exploits is a mineral exploration company which focuses on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada
- Exploits Discovery Corp. (NFLD) remains unchanged, trading at C$0.145 per share at 3:14 pm ET
Exploits Discovery (NFLD) has commenced the 2022 drilling campaign at its Titan gold target.
The property is located approximately 42 kilometres north-northeast of New Found Gold’s Keats-Lotto high-grade gold discovery.
The initial drilling consists of approximately 10 – 15 diamond drill holes totalling approximately 3,500 meters. The company plans to employ ‘fan-style’ drilling patterns with several inclined undercuts testing subparallel mineralization with potential continuity at depth.
Titan’s highlight is its historic drilling intercepts of up to 10.22 g/t Au over 3.35 metres in drill core (historic drill hole WP-1; Crosshair Exploration, 2004). Recent Exploits’ rock samples returned up to 57.5 g/t Au values. Exploits believe that the past drilling, only 1,559 metres over 20 shallow holes, was insufficient and warrants drilling.
This drill campaign plans to test for gold mineralization suggested by relationships between:
- The recent Alpha IP survey geophysical responses,
- Understanding of the historic, very shallow (under 100 metres vertical depth) drilling results by Crosshair Exploration in 2004,
- Delineation of the local stratigraphy including potential gold-preferred ‘black shales’ and gabbroic sills, and
- Correlation with high-grade rock samples of up to 57.9 g/t Au.
Jeff Swinoga, President and CEO of Exploits, commented on the announcement.
“Over ten thousand soil, till and rock assays are pending from our extensive and on-going regional field programs initiated in late April 2022. We anticipate some of these assays should enhance our current targets and potentially generate new ones that Exploits can develop going forward. With over $11 million in cash and no debt, the company is well capitalized to continue our pursuit of gold discoveries.”
This survey is an additional layer that compliments historic surface sampling, trenching, and drilling and has identified the potential for deeper and more extensive mineralization.
Exploits is a mineral exploration company which focuses on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada.
Exploits Discovery Corp. (NFLD) remains unchanged, trading at C$0.145 per share at 3:14 pm ET.
